For Sale
$15,000

948 StWarren, OH 44446

Distressed 1-unit property, value-add opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
114
This single-family rental property, located at 948 S St SE in Niles, Ohio (Trumbull County, zip code 44446), presents a compelling value-add investment opportunity. The 1,484 square foot, two-story home, built in 1920 and renovated in 2021, currently sits vacant. The property is classified as Class C and is being sold in distressed condition, requiring repairs to obtain an occupancy license. The city has deemed the property condemned; however, demolition is not planned, and repairs are understood to be sufficient to rectify the situation. The property features four bedrooms and two bathrooms and is conveniently located near Downtown Warren, suggesting potential for strong rental demand once renovated. The asking price is $15,000, representing a price per square foot of $10.11 and a price per unit of $15,000. While the current NOI is $0 due to vacancy, the pro-forma NOI is projected at $13,200, indicating a significant potential return on investment. The pro-forma cap rate is 88%. The property is offered as-is. Further details and photographs are available via a provided link. Serious inquiries only.

Highlights

  • Distressed single-family rental property in Niles, OH, listed at $15,000.
  • 1,484 square foot, two-story home built in 1920, renovated in 2021.
  • Currently vacant and requires repairs to obtain an occupancy license; considered condemned by the city, but demolition is not planned.
  • Pro forma NOI of $13,200 and an 88% pro forma cap rate.
  • Located in close proximity to Downtown Warren.

Property Details for 948 St

Property type
Residential income homes
Square Feet
1,484 SF
Class
C
Year Built/Renovated
1920/2021
Buildings
1
Stories
2
Units
1

Location Insight

City
Warren
County
Trumbull
State
Ohio
Latitude
41.234188528337
Longitude
-80.80559560191
948 St, Warren, Ohio

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948 St
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